Exelixis (EXEL) is Reiterated by Leerink Partners to Outperform, Raises Price Target to $ 10

Exelixis (EXEL) was Reiterated by Leerink Partners to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $8 . Leerink Partners advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on Exelixis. Company shares were Reiterated by Stifel on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Stifel Upgraded Exelixis on Apr 4, 2016 to ” Buy”, Price Target of the shares are set at $7.

On the company’s financial health, Exelixis reported $-0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.25. The company had revenue of $15.40 million for the quarter, compared to analysts expectations of $9.08 million. The company’s revenue was up 63.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

Exelixis opened for trading at $7.65 and hit $7.745 on the upside on Monday, eventually ending the session at $7.66, with a gain of 0.79% or 0.06 points. The heightened volatility saw the trading volume jump to 46,15,215 shares. Company has a market cap of $1,752 M.

In a different news, on May 11, 2016, Lance Willsey (director) purchased 60,000 shares at $4.96 per share price. According to the SEC, on Oct 19, 2015, Peter Lamb (EVP, Discovery Research & CSO) sold 51,549 shares at $5.80 per share price.

Exelixis Inc. is a biopharmaceutical company. The Company is engaged in developing small molecule therapies for the treatment of cancer. The Company is focusing on resources development and commercialization of COMETRIQ (cabozantinib) for the treatment of progressive metastatic medullary thyroid cancer (MTC) in the United States. The Company’s other programs include metastatic renal cell carcinoma (mRCC) a phase III trial comparing cabozantinib to everolimus in patients with mRCC who have experienced disease progression following treatment with at least one prior VEGFR TKI; CELESTIAL a phase III trial comparing cabozantinib with placebo in patients with advanced hepatocellular cancer (HCC) who have previously been treated with sorafenib; NSCLC (non-small cell lung cancer); mCRPC (metastatic castration-resistant prostate cancer) and XL888 a small molecule oral inhibitor of Heat Shock Protein 90 (HSP90).


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